Internet giants including Facebook, YouTube and Instagram are seen as the main targets of the proposed new rules, which are part of government plans to make the United Kingdom the "safest place in the world to be online".
But Britain has no official internet or social media regulator and is looking for ways to stop harmful online material from reaching children. However, there is an indication that the regulation of "fake news" is only a little further around the corner, with the Response stating that "t$3 he government is undertaking an ambitious programme of wider work on how we govern digital technologies to unlock the huge opportunities presented by digital technologies whilst minimising the risks".
'With Ofcom at the helm of a proportionate and strong regulatory regime, we have an incredible opportunity to lead the world in building a thriving digital economy, driven by groundbreaking technology, that is trusted by and protects everyone in the United Kingdom, ' said Ms Morgan.
The Government said on Wednesday it will appoint Ofcom as a new regulator for the sector, charged with ensuring internet firms enforced new guidelines to protect users from harmful content.More news: Billie Eilish releases new James Bond theme song
In its white paper, the British government said it could potentially give regulators power to impose fines on large tech companies and block internet service providers.
The British government a year ago unveiled a white paper outlining possible measures it could take on the matter, and calling for feedback. It's putting more onus on the companies themselves, requiring them to explicitly state what content is "acceptable" on their platforms and enforce these conditions effectively, with full transparency.
They said users should also be given the chance to appeal when their content is removed, and platforms must be more transparent over removal decisions.
The move is part of plans to protect children and vulnerable people online and give consumers greater confidence to use technology. This means that, should the social media landscape shift suddenly, as it is wont to do, it shouldn't take lengthy new procedures for adaptation to catch up.More news: Amazon wins suspension of $10 bn 'JEDI' contract to Microsoft
The Internet Watch Foundation (IWF), the United Kingdom charity responsible for finding and removing images of child sexual abuse from the internet, said it is pleased to see protection for children "being put front and centre of Government policy". "I think they understand now that actually regulation is coming".
The initial response to the consultation has set out the government's thinking at this stage, although the plans are still subject to change between now and when the final response is issued in spring 2020. Government will be setting up the direction of the policy while Ofcom would have the freedom to draw up and adapt the details.
According to Julian Knight, chair elect of the Digital, Culture, Media and Sport Committee, a "muscular approach" is needed for regulation among the social media platforms.
Daniel Dyball, UK executive director at the Internet Association, said: "Internet companies are committed to working with government to achieve our shared goals of keeping people safe online and ensuring that the internet continues to deliver benefits to the economy and society".More news: Trump to transfer $3.8B from military to fund his wall